One of the subsidiaries of Signa Sports United (SSU) – the group was put up for sale at the end of 2023 due to serious financial difficulties – is starting to see the end of the tunnel. After Probikeshop in particular, it would be the turn of Wiggle CRC to soon come under the fold of a huge British group, according to Road.cc's sources. Unfortunately, all jobs still active would be threatened.
Source : WCR
At the end of 2023, a small clap of thunder shook the online sales sector specializing in bicycles: Signa Sports United (SSU), a large group owning, among others, Wiggle CRC, Bikester, Probikeshop and Farrhad.de, was launched. sale due to serious financial difficulties. The beginning of a descent into hell for its subsidiaries.
At the time, more than 100 jobs had been lost at Wiggle Chain Reaction, awaiting a buyer. In the meantime, the Probikeshop case has been settled: two takeover offers were accepted by the Lyon commercial court in December, retaining 28 jobs out of the 80 at the time.
Wiggle CRC soon to be acquired?
It is now Wiggle CRC's turn to soon experience a more or less happy ending, according to Road.cc's sources. More or less happy, because on the one hand the company could be bought by the British giant Frasers Group (specialized in the sale of sporting goods), according to rumors. But on the other, no employee would be kept.
According to Road.cc's interpretation of the information collected, the takeover by Fraser Group would quite simply be the cause of all these job cuts. Several employees have also confirmed the news in LinkedIn posts. In short: the company would not disappear, but to the detriment of all its teams.
Still unanswered questions
In addition to the fate of employees, that of the Vitus and NukeProof brands raises the question: will they survive this handover, if there is a handover. What will become of the Wiggle CRC site? Are recruitments expected? For the moment, the mystery is still complete.
Since mid-2023, a deep crisis has affected the bicycle and electric bicycle sector. Inflation, drop in demand and overstocking are among the main causes which exert strong pressure on the subsidiary's stakeholders. In recent months, there have been countless bankruptcies and serious financial difficulties.